Revenue (Tables)

12 Months Ended

Dec. 31, 2022

Revenue from Contract with Customer [Abstract]

Revenue by product are summarized as follows:


	For the Years Ended December 31,
	2022						2021						2020
(In millions)	United States		Rest of World		Total		United States		Rest of World		Total		United States		Rest of World		Total
Multiple Sclerosis (MS):
TECFIDERA	$	417.7	$	1,026.2	$	1,443.9	$	680.6	$	1,271.3	$	1,951.9	$	2,677.7	$	1,163.4	$	3,841.1
VUMERITY(1)	521.3		32.1		553.4		408.9		1.5		410.4		64.3		—		64.3
Total Fumarate	939.0		1,058.3		1,997.3		1,089.5		1,272.8		2,362.3		2,742.0		1,163.4		3,905.4
AVONEX	649.2		324.3		973.5		830.2		378.5		1,208.7		1,083.4		408.5		1,491.9
PLEGRIDY	148.4		183.5		331.9		152.9		204.5		357.4		190.1		195.5		385.6
Total Interferon	797.6		507.8		1,305.4		983.1		583.0		1,566.1		1,273.5		604.0		1,877.5
TYSABRI	1,123.4		907.5		2,030.9		1,142.2		920.9		2,063.1		1,096.8		849.3		1,946.1
FAMPYRA	—		96.6		96.6		—		105.2		105.2		—		103.1		103.1
Subtotal: MS	2,860.0		2,570.2		5,430.2		3,214.8		2,881.9		6,096.7		5,112.3		2,719.8		7,832.1

Spinal Muscular Atrophy:
SPINRAZA	600.2		1,193.3		1,793.5		587.9		1,317.2		1,905.1		787.8		1,264.3		2,052.1

Biosimilars:
BENEPALI	—		441.0		441.0		—		498.3		498.3		—		481.6		481.6
IMRALDI	—		224.5		224.5		—		233.4		233.4		—		216.3		216.3
FLIXABI	—		81.3		81.3		—		99.4		99.4		—		97.9		97.9
BYOOVIZ(2)	4.3		—		4.3		—		—		—		—		—		—
Subtotal: Biosimilars	4.3		746.8		751.1		—		831.1		831.1		—		795.8		795.8

Other:
FUMADERM	—		8.2		8.2		—		11.0		11.0		—		12.2		12.2
ADUHELM	4.8		—		4.8		3.0		—		3.0		—		—		—
Total product revenue	$	3,469.3	$	4,518.5	$	7,987.8	$	3,805.7	$	5,041.2	$	8,846.9	$	5,900.1	$	4,792.1	$	10,692.2

(1) VUMERITY became commercially available in the E.U. during the fourth quarter of 2021.

(2) BYOOVIZ launched in the U.S. in June 2022 and became commercially available during the third quarter of 2022.

Analysis of change in reserves

An analysis of the change in reserves for discounts and allowances is summarized as follows:


	December 31, 2022
(In millions)	Discounts		Contractual Adjustments		Returns		Total
Beginning balance	$	137.7	$	759.6	$	38.0	$	935.3
Current provisions relating to sales in current year	666.6		2,715.5		12.3		3,394.4
Adjustments relating to prior years	(2.8)		1.4		(7.2)		(8.6)
Payments/credits relating to sales in current year	(514.9)		(2,060.7)		(1.2)		(2,576.8)
Payments/credits relating to sales in prior years	(132.8)		(558.1)		(18.4)		(709.3)
Ending balance	$	153.8	$	857.7	$	23.5	$	1,035.0


	December 31, 2021
(In millions)	Discounts		Contractual Adjustments		Returns		Total
Beginning balance	$	141.4	$	1,093.0	$	41.6	$	1,276.0
Current provisions relating to sales in current year	736.7		2,948.7		15.2		3,700.6
Adjustments relating to prior years	(4.0)		(96.1)		(3.3)		(103.4)
Payments/credits relating to sales in current year	(599.3)		(2,283.1)		(0.4)		(2,882.8)
Payments/credits relating to sales in prior years	(137.1)		(902.9)		(15.1)		(1,055.1)
Ending balance	$	137.7	$	759.6	$	38.0	$	935.3


	December 31, 2020
(In millions)	Discounts		Contractual Adjustments		Returns		Total
Beginning balance	$	131.1	$	1,027.3	$	40.5	$	1,198.9
Current provisions relating to sales in current year	774.7		3,308.8		19.0		4,102.5
Adjustments relating to prior years	(1.0)		(54.0)		1.3		(53.7)
Payments/credits relating to sales in current year	(635.1)		(2,426.1)		—		(3,061.2)
Payments/credits relating to sales in prior years	(128.3)		(763.0)		(19.2)		(910.5)
Ending balance	$	141.4	$	1,093.0	$	41.6	$	1,276.0

Total reserves included in consolidated balance sheet

The total reserves above, which are included in our consolidated balance sheets, are summarized as follows:


	As of December 31,
(In millions)	2022		2021
Reduction of accounts receivable	$	143.4	$	133.2
Component of accrued expense and other	891.6		802.1
Total revenue-related reserves	$	1,035.0	$	935.3

Revenues from anti-CD20 therapeutic programs

Revenue from anti-CD20 therapeutic programs is summarized in the table below. For purposes of this footnote, we refer to RITUXAN and RITUXAN HYCELA collectively as RITUXAN.


	For the Years Ended December 31,
(In millions)	2022		2021		2020
Royalty revenue on sales of OCREVUS	$	1,136.3	$	991.7	$	845.4
Biogen's share of pre-tax profits in the U.S. for RITUXAN and GAZYVA	547.0		647.7		1,080.2
Other revenue from anti-CD20 therapeutic programs	17.2		19.1		52.2
Total revenue from anti-CD20 therapeutic programs	$	1,700.5	$	1,658.5	$	1,977.8

Revenue from anti-CD20 therapeutic programs is summarized as follows:


	For the Years Ended December 31,
(In millions)	2022		2021		2020
Royalty revenue on sales of OCREVUS	$	1,136.3	$	991.7	$	845.4
Biogen's share of pre-tax profits in the U.S. for RITUXAN and GAZYVA	547.0		647.7		1,080.2
Other revenue from anti-CD20 therapeutic programs	17.2		19.1		52.2
Total revenue from anti-CD20 therapeutic programs	$	1,700.5	$	1,658.5	$	1,977.8

Other revenues

Other revenue consists of royalty revenue and contract manufacturing and other revenue and is summarized as follows:


	For the Years Ended December 31,
(In millions)	2022		2021		2020




Contract manufacturing and other revenue	$	417.7	$	427.7	$	719.1
Royalty revenue	67.4		48.6		55.5
Total other revenue	$	485.1	$	476.3	$	774.6